3 Financial Stock Stories to Take to the Bank

American International Group (NYSE:AIG): Current price $45.77

AIG Chief Executive Robert Benmosche had some hard advice for college students graduating subsequent to the financial crisis. In an interview with Betty Liu on Bloomberg Television, he said, “You have to accept the hand that’s been dealt you in life. Don’t cry about it. Deal with it.” Benmosche will give a commencement address on May 18th at Alfred University, where he earned a degree in mathematics and played football. Due to the economic residuals of the crisis, college graduates have had a tough time landing jobs, and unemployment for recent college graduates, ages 20 through 29, was 12.6 percent in October 2011, according to a Bureau of Labor Statistics review in April. The chief executive remarked that “They want me to talk to the students and give them a sense of encouragement, especially with the high unemployment. My advice will be, whatever opportunity comes your way, take it. Take it and treat it as if it’s the only one that’s coming your way, because that actually may be the truth.”

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AIG

 JP Morgan Chase & Co. (NYSE:JPM): Current price $51.06

The Portuguese government and J.P. Morgan are trying to settle a dispute over potentially costly derivative contracts sold by the investment bank to state-owned firms. One inside source reported that talks were underway after both sides threatened legal action in regards to a series of complex hedging products characterized as “toxic” by Lisbon. The dust-up between JP Morgan and Lisbon, which is trying to curb potential losses of up to $4.0 billion from complex hedging products sold to the Lisbon and Porto Metro, is reminiscent of similar battles in countries like Italy as bank clients claim that they were mis-sold products.

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JPM

Morgan Stanley (NYSE:MS): Current price $24.63

Analyst Michael Mayo at CLSA Ltd. raised his share-price estimate on Morgan Stanley to $36 subsequent to Chief Executive James Gorman predicting that the firm might attain his profitability target in 2014. In a note to investors on Tuesday, Mayo said that shares can rally nearly 50 percent, as he raised the price estimate from $30, adding that reaching Gorman’s target of 10-percent return on equity suggests earnings per share of $3 for 2014, above the average estimate of $2.50.

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MS

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